HomeMy WebLinkAbout1316 .~t al) timrs ~x•:~i~:~bl~~ tuicl ~~ui~~th• to eu~ee u~wn, hul~l, ~Krup)' au~l ~~~y~~~• ~.u~f I.u~ci; tj~at w~i~i tauel is fn~• iroin al! i•uruu~LruucYS:
tl~.~t thew ~~~ill make such further assursuices to perfoct !he Eee simpk• ti11e to w~id Lind in the A~u~ci:?tiut~ uc n~av ~~•uauuab~y Ir•
r~•~~tnnYl; and that the,y ~l0 1?ereby fully wamant the titk to sai~l lau~l :u~tl ~~ili t=rFcnd th~• s.un~• ;~~;ain~t th~• I,~~~ful cL~iws u[
.:II +x•~un. ~~hu~u.~w•vrr.
Pl{O1'll)EI) Al.\\'A1'S th:~t i( tlk• \lurt~.~~un ~h.ill ~vcl) :~u~l lruly ~~:i~~ uutu 1!u• :~~.~K•i:~tiun, tl~r iu~li•I?lerlu~•~~ ~•~id~•ut~eYl
h~• th.?t ct`rl:tin promisson' note, oE even date herew•ith, [i~.1c1e bv tl~e• ~tort~,~~ors :~ncl ~~.«•:ihl~• to tIM AswK~i:~tiun, iu th~• ~xinri~~:d
.~~m ut TWELV~': THOUSAND FC?UR HUNDRED AND NO/100-------• 1~~1l.~rs ~S 12~ 400, 00
~.t~i~•h tH?tc•, t~?t;eti?er ~~•ith in~r~est tf~er~v?~~ :i. then•in s~kY•ifie~t, is ~~:~~.~bl~• in ~mmthl~• intitalknrntc ~~f O1V~ HUNDRED
THREE AND 53/100------•-------------•--------------•-••-------•-------------
~k,D:?n ( S 103, 5 3 y.
~~n thr 20th Jay of each iu~a?th ~,m~uu•nciu~ «~ith Al1gUSt 2Qi ~971 H•hirh p:?~~mcntc
~rr to tk• .~ppli~~cl, first to intcrest, and th~• b•rlancr tu Princip:?1, until siiel indebtecinecc is E~:~id in hdl, and shall pedorm~ eomply
~+id? a~zd abide by raeh and every the stipulatiuns, a~n~ements, c~cmditions and tY~renui~ts uf wid pn~n~icsory uote and thi.c
murtG:?Ge, And, including anv ad~•ances macie by the Asu~ciation to the itortga~Gors, c?r th~•ir sucressors in title, fo~ anr ~nupos~,
.it anv time bcfom tf~e mle~asc and r.u~crllatiun of this mnrtGa~c•. but at t~o timr shall thic mortg~Ge secure ad~~antrs a~ acrount
„f ~~id ~~ri~inal note t~~gether ~~•ith .,~ch a~lditional ach•anc~•c in ~u~n in excess of TWELVE THOUSAND FOL;R
IYUNDRED AND NO/100------------------- I~,ll;,n ~S 12, 400. 00
ius anv ach•u~Krs neccssan•
t~~ prote~et the sururit~~ and cnsts, then this cleed :?n~l thr estate hereb~• rrrat~Yl xh:~ll crasc~ :~nd be null :ind void. ~ F
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A\D THE ~fORTG~CORS D() h~•rcb~• tv~'enant and a~rcY•: .
I. To pay all anci sinj~~l.tr the princiE~:il a~~d intcrest and otLrr sums ~~f muuey pa~•able h~• virtuc of s:?id prumica:n• nutr
,r~,1 this mortG.igc, or eit)~er, prvmpth~ on the da~~s respec.-li~•ely thc sam~• ~•verall~• comc duc.
3. 1'o par all and sin~ular ihe tz+crs, :essrssmeuts, levies, liabilities, ul~liKatiu~u and incumbranres of even• i~ature and kind
o~e ~.~id J~~•rihed pm~~ert~•, or that here~fter inav bc im(x~secl, suffered, pl~ced, lc~~•ia~el, or :~scessecl thereon,~or that hemaR~•r ~
n~,?~• be le~•ic~i or a~sess~~cl upon ihis ~tortgage, or the indebtecLiess s~Y•un~l hereb~~, c•:uh and e~•en~, arhen due and payable•. ~
.~erord'uig ta la~~•, tx~[om thev lx~cume d~~linqucnt, :u~d I~efore am~ i~tterest :sttachr; ur :~m• penaliV u inc~~rmd; and inwfar :u
.u~~• thercYfE is af rccur~l the sam~ slial) be prc~in~>th- xatisfi~Yl and disc•har~e~cl of r:~y~rci and th~ uri~inal official documrnt (s~~ch ;
~s, for iactanc~e. the Gtr reeeipt or the satisFaMion pare~r oifiei:?lh• endorsecl or eeriified) sh.~ll ~~placrd in the hands of sai~i ~
:\scociation as ~1ott~a~er ~.-ithin ten d:~~•s next after pa~•ment: and in the event ilu?t anv thercy,f is not ~~:iid, satisfied snd dischar~eci, ~
said Associatiun mav at am• time ~~:iv the ~:t~n~ or ant• Furt th~rcoE ~vitMn~t asaiving or affcrtin~ an~• option, lien. e~~uit~• or ri~ht ;
t~nder or In• ilrtue uf this \lort~:~~e, and tlae full amuunt of each and even• such ~u~~tnent shal) I?r immtYliatelv due anclp.~ ~:~hle }
: r.d shall Ue:u interest fmm the date thrreof until paid at the r.ite stated u~ the notr crc~urecl he~ebv ;wd to~Mh~•r ~~•ith such int~~r-
~•.:t sh.~p he scrurc~i bv the lien of this \turtgage,
3. To keep the buiklings and all eyuipment aad persoual property now or herea(ter on said precnises covered by thu mortgaRe,
~nsured in a sum eyual [o at least [he afnount o( shr ~noreqage, or an amount sufficient to comply with anr co-insurance rt~uirc-
ment co~•rtin~ tt~e sanx unilrr thc laws uf the St.itr ot Fbrid~, toccritiR loss (rom both-tire and storm, m~king the loss undtr said
FK~li~irs. eaeh and everv, pa}able to the ?lssociation. rs mort~-rgte, as its intrrrst tnav apptar, and said i~uurance shall be in ~ gaod
and rrsponsiWe i~uutauce compam sa:is(actor~ to said :?ssociation, and Mritten by a respotuible (ocal agrnt satis(attory to uid :~sso- '
~L~tion: and the polic? or policies shali bear a seanciard mortg;~{e clause without contribution, and, if the original principal amount
o( ihe mortKaRe is Fi(ty 'I'housand and no: IINI Ibllars (550.0p0.00) ur in excess th~no[, shall be held by the Association, and, in
~hr e.ene any sum of mone} becomrs payable uuder such policy or polieirs, the ~'?ssociation shall have the option to recti~~e and apply
~he same on account of the ~udtbtcYlness hereby securevf. or to permit the mongaqorS to receive and use it. o~ ~~r wn therroE, for
ucher purposc~s, r?ithout chereb~- haiainR or impairin~ a~~y eyuu~, licn. or right under and by virtue o( this mortgaqt, and may
f~l.ue and pa± for such inw~ancr. or any ~:rrt therrof. without ~vaicitiK or af(rcting its opcion to torrclose, or anv right hrreunder.
.+ud the full amount ot each and r~er~• such ~~-r}•mrnt shall tm immcYli:~trlv du~ and payable and sh~ll brar interest from the dite
chrrrot until paid at the rate stacecl in che notc secured hereby and toy,ether with such interest shaN be securecl by the lien o~ t2~is
~tortgage.
a. To Jiermit, cY:mmit, i~r suffer no waste, impainnent or c+e~tenuratiun of said prupem•, or .im• ~~art theree~E, and ujwn
ti~r failure of the in~?rt~a~urs to keep the buil<lin~s or~ saic) ~~n~prrh- iri ~~xxl cti~nclitiun uf rep.~ir, the :~ssociatiun ma~~ demand the
•nmesliate re}~~r of s;?id buJdi~~~s or thc imm~Yiiate mlra~-rr?ent of the debt herrb~• xru~~Y1, :?n~l the faiiure uf the ~rx~rtgagors
rnmph- «•ith said demand of the Association fur ~x~ri~xl ~,f Thirt~• (3(~l d:i~•s, .}~~II cxn~stitute brr.~ch ~f thic mortRa~e~,
,ind, at the opti~~n of the As~iation, immedi.~t~l~• in:?tun• the rntire .im~~unt of princi~l and intrrest hereb~• sec~~re~cl, and the
1cc~eiation, immediatel}' and u-itFx~t~t notiee, ma~• instit~de proa~edin~s forrc•:uc~ this m~irt~afi~~ and apPlv (or the ap~x~iiitment
~f a Rereiver, ac h~veinafte•r pr~~~~ide~l. ~
TF~is mari~a~e c~ntract provides for add?tiuu.~l '11I~':lllCrs ~~hich mar 1x nwdi• at thr uptiu~e ~~i the atu~ci:~tion and
~rcutc~cl bv this mort~a~e, and it is agreecl that in the e~•ent of ~uch ad~•ancr-s th~ amuunt mav lre addrd t~? tl?e• mortKa~e drbt
+n~i sh..il inc~eau the unJr.iid balance of the note hereb~~ secared bv thc~ amuw~t oE such advance snd shall t~r a p.~ri of saic!
•~~~2e indebted~~~~s~ .iucie~ :~II the terms i~{ s.iid notF :incl ~thi: eontract ::s fe+lh~ as if :e riex• such a~?le ~nd euntr.~rt ~c~~re e«Y•ute~cl
~n~ ~leliverccl. .~n .~s1~litional adsancr a~rc~~m~?t ma~• Ix fii~•cn an~1 accrptc~l for s~ich a~l~~ancr ancl pnwision :u,~~~ }x• m.?dc (ur
~iFf~•mnt mr~nthl~• p:~~~nents .:n+l a di(ferrnt interest rate and Mh~~~ express moclifir.~tions of the amtnei, hut m.il) ~dher re•.~x•ctc
~hi; cYmir:tM sl~.tll n~rn.~in in full force and eff~~ct as to ::~id ind~•btc•dness, incluiiinR all :l(~V:IIICCS. J
6. If ~n~• nf the sanu of moiiey herein referrec! to be not prompth• and full~• paid N•~th~n "Thirh- t,31?~ days ~ir~t aHrr ~
zt?c same se~•cr.~lh• c.~me d~ic and pavablr, or iE cach and even~ ll~c sti~~ul.dions, a~~rct•me'Ii~. Ct?1iC+If1U11S, 171O ~tin•er:ants of ~.~i~l
~rr,:niswry r~atr ar~~1 this de~c~d, or either, are n~ duly ~x7forme•d, afm~~lircl with an~! abidecl b~, Iltie :~~;grc~itc sum menti~x~ecl `
~n said prumiss~~rv note aud anv other amount or ainui~nts adJnl tu the mnrt~at;c in~lebtedness unde r the te~rni~ of tt?is murt~.iqc
shall become dur .u?d ~~-vble furthv~-ith or thcreaftc•r at the optiun of the As.ux~iati+?n, as ftdh• ancf cv,mpietch• :~s if .aid a~~rc~ati•
~um ~?f tru,nev w•at ori~in:~lly s:ipuiated M be paid on such cia~•. an~~thin~ in said prcxr~i~c+~n• ~.?tr ~~r he•re•in t~~ tFiF ctix?tr.+r~• n~?t
w'tt}tstaru~iri~, ~ '
~ Tr~ .IFli~r•r tu th~~ Asu~ciatN,n, on e~r IH•f~~re V,~rrh Iith. uf c:~ch ~e.u. tai retiripts rvidcnrinL tlte paiTnent ~~f all la~~~
t~~lls ~m~ ,srvl t.ixr~ for thr pr:r~til~n~ c.~lr~ular ~rar, tu Jrlivrr to th~• .~ss~x•iati~a~ uYV i~~t< <•~•ide~?cin~ tho pa~-ment of ali i~ens
f~~~ Jwblic impm~ements v~~itbi~i ni~irtv (~U) days a(ter the same shap IKY.~mi•zfrn• and p.~~•able, :u~d to ~x?~ or disch:u~e ~+•ithu~
•;~nrtv i~X?1 davs aftrr dur datP, anv and al) {~u~•rrnmrntal 1ct•i~`c that ma~• lx• ~naili• ~m thc m~?rt~;.~krv1 ~,i~~~x•rt~•, ~wi thic m<irt~a~;.•
,r n•~tr, nt in ar~~• ~~~h~•r v?•a~' rr~ultinq f~nm fh~• rnurt~aKe in~lr}?teYlnrcc ~eriir~•el h~ t1,is ~nnrt~a~r.
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~Qa~ i~4 1316 '